SUMMARY
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Are you applying to the Munich Re 2024 internships or graduate programs? Are you exploring a professional job opportunity at Munich Re? This comprehensive guide is for you.
The text below provides a full candidate recruitment, assessment preparation guide and practice for those applying to jobs, internships and graduate programs at Munich Re globally, including the UK and US.
Our website provides scientifically validated practice assessment tests, interviews and assessment centre exercises that can be used to practice and prepare for the recruitment and assessment process.
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Should you practice assessments to prepare for the Munich Re assessment process?According to research, 60-80% of candidates are rejected based on their aptitude test results. It is proven that practice increases your chances of getting hired.
A recent study found that candidates who do not practice assessments tend to fail at the first hurdle of psychometric assessments (54%-84%). This study looked at the Top 100 global employers. (Bradley et al., 2019)
A recent study found that candidates who do not practice assessments tend to fail at the first hurdle of psychometric assessments (54%-84%). This study looked at the Top 100 global employers.
In a nutshell:
Munich Re uses a variety of aptitude assessment tests and may also include mechanical reasoning tests for some roles. The Munich Re online assessment test may include:
Prepare for your Munich Re interview by running mock interviews and answering typical finance interview questions for the role you are applying for. For Munich Re interview practice, use the following:
Use the STAR+R method for your answers and practice each answer several times.
Munich Re makes use of a variety of competitive exercises during the assessment centre to find the right candidates. Ensure that you practice a variety of exercises including:
Continue reading to get answers to the following important questions:
Go Premium to access all the assessments listed above and practice in preparation for your Munich Re assessments for the first time.
Without further ado, letโs get started!
Munich Re Insurance Company, commonly referred to as Munich Re, is a German multinational insurance company based in Munich, Germany and currently operates in over 160 countries with 4,000+ corporate clients.
As one of the worldโs leading reinsurers, Munich Re employs over 40,000 people in its workforce and screens thousands of applications yearly to hire the best talents to join its operations.
Discover the various areas applicants like you can apply to in Munich Re below.
Munich Re operates in several key business areas of the financial services industry and also has two major subsidiary companies, each offering various roles and functions. Some of these business areas are:
So how do you get a job at Munich Re? The Munich Re application process has different stages, which we cover in the following sections below.
Read on to find out more!
The Munich Re recruitment process starts with an online application. To submit your Munich Re application, simply visit the companyโs official careers site, search for a role of your choice, and select it to apply.
This will redirect you to a job portal where you will be required to sign in or create an account to begin filling out your Munich Re online application. You will be required to provide the following details:
Munich Re Online Application
Source: Munich Re Careers
Munich Re Application Tip: To enhance your application, you should understand Munich Re’s success criteria and know that some roles may have specific questions or a cover letter outlining how you align with these criteria.
Munich Re has three important success criteria that it assesses applicants against to measure their suitability for the role and company. These success criteria are;
Strategic Fit:
New or complementary skills and experiences you bring to the team and organisation.
Leadership Fit:
Demonstrate leadership experiences and roles that mirror Munich Reยดs leadership values and approach to continuous development.
Technical Fit:
Display expertise and transferable skills needed for long-term success within Munich Re.
Good to know: Munich Re also looks for employees who have a passion to compete and demonstrate accountability, agility, adaptability, collaboration, respect, and leverage diversity.
Within a few days of submitting your Munich Re online application, you will receive a link to complete the Munich Re Assessment Tests.
The Munich Re assessments are psychometric tests that evaluate your numerical, verbal, and logical abilities. The assessment is 45 minutes in total, with 15 minutes for each section. Depending on the role’s location, these tests may be provided by SHL.
The Munich Re test has three different sections that contain 12 questions each. The three sections of the Munich Re online test are:
Good to know: After receiving the link for the assessments, you will have 6 days to complete them otherwise your application to Munich Re will not be accepted.
Letโs find out what each of these Munich Re online tests are, what they entail and what they assess.
The Munich Re numerical reasoning test assesses your ability to analyse data and understand numerical information with multiple-choice questions on graphs, percentages, ratios, and data tables.
The Munich Re numerical reasoning test will typically assess your ability to understand and make informed decisions from numerical data.
Munich Re numerical reasoning test tip: When you take the test, prioritise questions strategically. Not all questions in a numerical reasoning test are of equal difficulty.
Check out the video to learn more about how the Munich Re numerical reasoning test works!
Check out our 6 top tips to help you pass your Munich Re numerical reasoning assessment below.
For more hints on how to pass the Munich Re numerical reasoning test, watch our short video below.
Gain access to FREE numerical reasoning practice questions when you sign up with GF to practice for your Munich Re numerical test.
Using the tips we provided above and in the video, take the opportunity to try a question similar to the Munich Re SHL numerical reasoning test question below!
Munich Re-style Numerical Reasoning Question Example
Did you get the correct answer? Check the bottom of the page to find out.
Looking for even more Munich Re numerical test prep?
After getting through the Munich Re numerical reasoning test, you will also face the Munich Re verbal reasoning test questions.
The Munich Re verbal reasoning test evaluates your ability to understand information presented in written reports, paragraphs, or passages. It involves reading brief paragraphs and answering corresponding questions.
Munich Reโs verbal test measures your ability to read, understand, analyse, and make accurate decisions from written information.
Munich Re verbal reasoning test tip: Summarise each paragraph and understand the main ideas, overall structure, and purpose of the text to boost your performance on the verbal reasoning test.
Our short video below explains more about the Munich Re verbal reasoning test.
Below are our 6 top tips to help you ace Munich Reโs verbal reasoning test.
For more tips on how to pass the Munich Re verbal reasoning test, watch this short video:
Practice our FREE verbal reasoning practice questions developed by our experts in preparation for your Munich Re verbal test when you sign up with GF for free.
Practice a free sample question similar to the Munich Re SHL verbal reasoning test question below using the tips we provided above and in the video!
Munich Re-style Verbal Reasoning Question Example
Did you get the right answer? Check the bottom of the page to find out.
Looking for even more Munich Re verbal reasoning test practice?
After assessing your verbal skills with the verbal reasoning tests, the Munich Re aptitude test will also look to evaluate your logical thinking capabilities with logical reasoning test questions.
Read on to understand what this assessment entails.
The Munich Re logical reasoning test or deductive reasoning test assesses your problem-solving and logical reasoning abilities with short passages followed by statements that you will decide are true or false, based on the argument in the passage.
The Munich Re logical reasoning test assesses problem-solving, attention to detail, and logical skills.
The Munich Re logical reasoning test focuses on using critical reasoning to draw logical conclusions from passages while the verbal test focuses on understanding written information from a variety of sources.
Donโt miss our teamโs top 8 tips below that you can use to pass the Munich Re logical test in one go.
For roles in the Munich Re International Group Trainee Program, you may be required to complete a video interview after completing the Munich Re online assessment.
The Munich Re video interview is a virtual interview where you will be required to record video responses to preset questions from Munich Re. In some cases, this interview may be conducted as a telephone interview instead.
The Munich Re video interview aims to get to know you better and find out your motivations for wanting to join the company. Therefore, the interview questions here will be based on your motivations and knowledge of the company.
Watch our short video below to understand what the Munich Re video interview is about.
Use the tips above to practice the following Munich Re video interview questions.
Some Munich Re interview questions at this stage include:
Watch our short video below to get tips on how to answer the โintroduce yourselfโ Munich Re interview question.
Read on as we give an example answer to one of these Munich Re interview questions below.
How to Answer:
When responding to this Munich Re interview question, demonstrate your stress-handling ability and composure using the STAR+R Method. Structure your answer with a specific example of successfully managing pressure.
Good Answer:
Situation:
In my previous role as a Risk Analyst at an insurance firm, we were tasked with completing a critical risk assessment for a high-value client within a tight deadline set by our partner.
Task:
My team faced the task of analysing complex data, identifying risks, and crafting effective mitigation recommendations. We were under pressure to deliver precise insights within a tight timeframe to meet our partner’s requirements.
Action:
I organised a streamlined workflow, delegating tasks based on team members’ strengths and expertise. We prioritised data collection and analysis, leveraging advanced risk modelling software to speed up the process. To handle the pressure, I prioritised tasks, maintained communication, and provided ongoing support and guidance.
Result:
We completed the risk assessment ahead of schedule, ensuring timely submission to our partner. Our comprehensive analysis and well-supported recommendations earned praise from both the client and our partner, renewing their partnership with us for another year.
Reflection:
This experience reinforced the importance of adaptability and collaboration under pressure. By maintaining a strategic approach and leveraging available resources efficiently, we not only met the deadline but also delivered exceptional results that strengthened our professional relationships and credibility in the industry.
Want to know what other questions could come up in your Munich Re interview? Practice the Essentials with GF and discover more potential Munich Re interview questions with our Question Identifier Tool (QIT).
For most job applications to Munich Re, if you are successful in the Munich Re online assessment test stage, you may be invited to partake in a Munich Re assessment centre or complete an interview.
The Munich Re assessment centre is the final stage and will involve exercises designed to evaluate the various skills and competencies of selected candidates which will typically run for a full day.
The Munich Re assessment centre takes place either virtually or in person at a Munich Re branch office or the office location of the position you applied for. This often depends on the role.
In the Munich Re assessment centre, you will be required to complete some or all the following exercises:
Good to know: During the Munich Re assessment centre, you may be asked to retake one or some of the aptitude tests. In some other cases, depending on the role or location, you may just go through several interviews at this final stage.
Read on to understand what each of these activities entails, what they assess, and tips on how to pass them.
The Munich Re case study exercise assesses your ability to analyse complex scenarios, make strategic decisions, and communicate effectively by presenting a detailed work scenario for you to identify key issues, propose solutions, and communicate recommendations.
You may also be required to do a presentation relating to the role or Munich Reโs business.
The Munich Re presentation exercise will require you to deliver a presentation of your analysis in the case study exercise or on a given specific topic. This exercise assesses communication, presentation, and analytical skills.
Good to know: Munich Re may combine the presentation and your interview as one exercise with you giving the presentation during your face-to-face interview.
The Munich Re group exercise will involve you being paired with other present applicants to work on a given task to complete. This exercise is often used to assess your interpersonal skills.
The specific group exercises may vary but they will typically do the same thing; assess your ability to work in a team as teamwork, collaboration, and inclusivity are crucial to Munich Reโs work culture.
Watch our video below to learn more about what to expect and how to pass your Munich Re group exercise!
A Munich Re interview is the final activity of the assessment centre. You will undertake an individual interview with a Munich Re recruiter or manager. In this interview, Munich Re will look to get to know more about you, your personality and your qualifications.
Good to know: Depending on the role and location requirements, the Munich Re interview could either happen in person or virtually with the interviewer(s).
Donโt miss our video below for body language tips you can use during your Munich Re interview.
Practice your body language using our Video Interview tool and gain instant feedback on how you present yourself in an interview.
Andโฆ.thatโs a wrap on the Munich Re assessment process! If you are successful, Munich Reโs team will contact you with their decision, sometimes within 48 hours after the assessment centre or a few days after.
While youโre hereโฆ
Donโt miss the captivating range of opportunities for students and graduates at Munich Re.
Munich Re offers roles that help you kickstart your career in insurance. As one of the world’s leading insurers, Munich Re provides an array of opportunities globally, supported by mentorship, valuable experience, and guidance for individuals entering the insurance industry.
Munich Reโs early career opportunities include graduate programs and entry-level roles specially curated for students and graduates. Munich Re graduate programs include;
Letโs find out what these various Munich Re graduate programs are all about.
This Munich Re graduate program will introduce you to the insurance business in all its depth and help you work through various specialist departments gaining quality experience across multiple business functions.
You will tackle real-world challenges in a supportive environment and with a global network of Munich Re experts at yourโฏaid. This program offers openings in different roles such as risk analyst, underwriter, actuary,โฏcyber, data analytics specialist, etc.
This Munich Re graduate program is also known as EXPLORE. This program allows you to get to know the entire value chain of the Munich Re Group and find out which specific area you would like to pursue your career.
This program will take you through 8 departments in Munich Re Group’s major 3 subsidiaries which are; Munich Re, MEAG, and ERGO.
The Munich Re EXPLORE program gives you the chance to expand your intercultural experience, as at least one of your assignments (max. two) will be tied to a location somewhere around the globe.
The Munich Re internships provide you with work experience and insight into all areas of reinsurance, nationally and internationally, with the option to start from your first semester to participate in exciting projects in reinsurance alongside mixed teams of experts.
With that, weโve covered all you need to know about the Munich Re tests, recruitment process, and early career opportunities you could potentially apply to.
But wait!
Before you start your Munich Re application and assessment tests, explore our FAQ section below for more answers about the Munich Re application process.
The Munich Re interview typically lasts between 45 to 60 minutes. However, it could take longer in some cases.
The Munich Re hiring process typically takes from four to six weeks, including the application, assessments, and assessment centre stages. However, the process could last longer depending on the role, location, and the Munich Re recruitment team.
Munich Re has three job assessments; numerical, verbal, and logical reasoning tests. The combination of tests to be taken by each applicant largely depends on the role applied for. However, the format of the tests may remain the same.
Munich Re is a reputable employer in the insurance and reinsurance industry, offering opportunities for career development, competitive compensation, and a supportive work environment. It also offers good opportunities for students and graduates to build a career in the industry.
Munich Re salaries vary, with roles such as Diversity and Inclusion Manager averaging around $64,935 per year and Actuarial Manager earning approximately $282,936 annually. Hourly pay spans from $20.30 for interns to $44.00 for Research Scientists.
Securing a job at Munich Re is competitive due to its major position in the global reinsurance industry. To increase your chances of success, research the company thoroughly, align your skills with job requirements, and submit a tailored application.
Munich Re may consider you for opportunities within the business, including visa sponsorship, depending on the demands of the role and if you were successful in landing the role.
Do you want to pass your Munich Re assessment tests first time? Sign up to take numerical, logical, verbal reasoning and logical reasoning practice tests today with GF, the only aptitude practice test experts providing practice test solutions to over 150 UK universities and their students, and also across Asia and continental Europe. Practise with peace of mind without commitment to a full 100% money-back guarantee if you do not pass your job tests. Correct answers to example questions: Numerical Reasoning Test: C Verbal Reasoning Test: B
Do you want to pass your Munich Re assessment tests first time? Sign up to take numerical, logical, verbal reasoning and logical reasoning practice tests today with GF, the only aptitude practice test experts providing practice test solutions to over 150 UK universities and their students, and also across Asia and continental Europe.
Practise with peace of mind without commitment to a full 100% money-back guarantee if you do not pass your job tests.
Correct answers to example questions:
Numerical Reasoning Test: C
Verbal Reasoning Test: B
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